Prominent Dallas businessman Samuel Wyly has filed for bankruptcy protection as he and the estate of his brother face up to $400 million in penalties after being found liable for hiding stock holdings overseas.

August 4, 2014, Monday

The U.S. Securities and Exchange Commission suffered a loss on Friday when a jury cleared a New York hedge fund manager and two others accused of engaging in a $1.3 million insider trading scheme in 2001.

May 30, 2014, Friday

Five former real estate executives do not have to face a U.S. Securities and Exchange Commission lawsuit accusing them of engaging in a $300 million Ponzi scheme, a U.S. judge has ruled, saying the agency waited too long to sue.

A jury on Monday found that Texas business brothers Samuel and Charles Wyly committed fraud by creating a secret scheme involving offshore trusts that netted them $550 million in illegal trading profits.

May 12, 2014, Monday

A jury began deliberations on Thursday in the trial of Texas tycoon Samuel Wyly and his late brother, Charles Wyly, whom the U.S. Securities and Exchange Commission accuses of engaging in a $550 million civil fraud.

May 8, 2014, Thursday

Texas tycoon Samuel Wyly said Wednesday his former lawyer cut a "deal with the devil" in agreeing to testify against him in the U.S. Securities and Exchange Commission's fraud trial accusing him of concealing stock trades in offshore trusts.